# Approval of Resolution Plan - Universal Construction Machinery and Equipment Limited

> NCLT judgment dated 2026-04-08. Citation: TCN-2026-NCLT-00317. The case pertains to I.A. (PLAN) NO. 79 OF 2025 in CP (IB) NO. 1121 OF 2022 filed by the…

- **Court:** NCLT
- **Order date:** 8 Apr 2026
- **Citation:** TCN-2026-NCLT-00317
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/approval-of-resolution-plan-universal-construction-machinery-and-equipment-limit-cfd1149b

## Summary

### Background

The case pertains to I.A. (PLAN) NO. 79 OF 2025 in CP (IB) NO. 1121 OF 2022 filed by the Resolution Professional, Mr. Anurag Kumar Sinha, seeking approval of the Resolution Plan submitted by Mr. Bharat Arvind Kulkarni for M/s. Universal Construction Machinery & Equipment Limited, the Corporate Debtor, under Section 30 of the Insolvency and Bankruptcy Code, 2016.

## Facts

The Corporate Insolvency Resolution Process (CIRP) of M/s. Universal Construction Machinery & Equipment Limited was initiated on 13.03.2024 under Section 9 of the Code.

Mr. Anurag Kumar Sinha was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).

The Committee of Creditors (CoC) was constituted comprising of Operational Creditors, as no claim was received from any Financial Creditor.

The CoC approved the appointment of valuers and invited Expression of Interests (EOIs) from Prospective Resolution Applicants (PRAs).

Mr. Bharat Arvind Kulkarni submitted a Resolution Plan, which was approved by the CoC with 100% voting share.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by Mr. Bharat Arvind Kulkarni meets the requirements …

**Ratio:** The Adjudicating Authority is required to satisfy itself that the Resolution Plan, as

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**Reasoning:** Section 30(2) outlines the mandatory requirements for a Resolution Plan, including

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**Interpretation:** The Resolution Plan must adhere to the mandatory requirements outlined in

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**Application:** The Adjudicating Authority perused Form-H and found that the Resolution Plan is

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## Parties

- **Judges:** NILESH S…; Charanjeet Singh…
- **Appellants:** Bonfiglioli…; Anurag Kuma…
- **Respondents:** UNIVERSAL…
- **Other parties:** Bharat Arvind…; Suryakant Vishnu…; +8 more
- **Advocates:** Manoj M…

## Timeline

- **2024-03-13 — Initiation…**: Corporate Insolvency Resolution Process…
- **2024-03-19 — Public Annou…**: Public Announcement in Form A…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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